FX.co ★ Brambles 9-month Sales Revenue From Cont. Opns. Up 9%; Reconfirms FY Guidance

Brambles Ltd., a company specialized in pooling solutions, has revealed that their sales revenue taken from ongoing operations for the initial three quarters of the fiscal year ending on June 30, 2024, approximately reached US$4.87 billion. This represents an increase of 9% when compared to the previous year, using actual foreign exchange rates.

When considering constant foreign exchange rates, the growth of sales revenue for this period was calculated to be about 7%. The volumes across their group, however, decreased by 1% because of a similar percentage fall in comparable volumes stemming from inventory optimization by retailers and manufacturers in Europe and North America. Meanwhile, all the new business they acquired across the group remained stable throughout the period. If the effect of inventory optimization is excluded from the calculation, comparable volumes would be consistent with the previous year.

Moving forward, Brambles maintains its forecasts for the year ending on June 30, 2024. They predict a sales revenue growth between 6% and 8% at a constant currency, along with an underlying profit growth rate of around 13% to 15%, again at constant currency.